Rio Grande, NJ asked in Tax Law for New Jersey

Q: If I foreclose on a property I hold the lien cert on ... do I get my premium and or subsequent payments returned to me?

I am within the 5 years

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1 Lawyer Answer

A: If you are talking about having a property tax lien on real property that you have been paying taxes on, you are entitled to receive the money you "invested" plus the statutory interest accruing for the number of years you have held the tax lien. If the owner ever tries to sell the property the owner must repay you all the money he owes before he can sell it.

If the property never sells and if the terms of your lien are satisfied, you can foreclose on the property. However, in most states the owner has a first right of redemption.

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